The largest companies in Saudi Arabia, Qatar and the UAE have moved some $100 billion for investments in Turkey, according to the Daily Sabah report.

During an interview with Bloomberg HT, UAE-based Abu Dhabi Investment Group Chairman Zayed Bin Aweidha revealed that Saudi Arabia, the UAE and Qatar will invest more than $100 billion in Turkey in the upcoming period. He said the political and economic cooperation between Turkey and Gulf countries was growing rapidly.

According to Aweidha, Turkey was one of the leading economies in the world and the largest in the Middle East. After cooperating with Saudi Arabia, all Gulf nations have are leaning towards investing in Turkey.

He said that he prepared a report that shows hundreds of billions of dollars in investments would flow to Turkey from Gulf countries in the coming weeks.

The investments will be made by Qatar and the BAE under the guidance of Saudi Arabia and there was already political cooperation between these countries and Turkey. Aweidha stated that the rise in exchange rates and concomitant negativities might be prevented through investments.

Source: DailySabah